Big win for Infosys in America! Court gives green signal to end 2023 cyber attack case
A very relieving news has come from America for India’s leading IT company Infosys. Infosys has informed the stock exchanges that the settlement between its US subsidiary ‘McCamish Systems’ and the complainants has been finally approved by a court there.
This entire matter is related to a cyber security incident that took place in the year 2023, after which several cases were filed against the company. Now if no appeal is filed against this decision within the next 30 days, this agreement will officially go into effect and all claims and allegations related to this dispute will be put to rest forever.
The root of this entire controversy is the incident of November 2023, when there was a cyber attack on the network of McCamish Systems. Due to this cyber attack, many systems and applications of the company came to a standstill. The investigation revealed that this incident had an impact on the system and data, after which six separate class action lawsuits were filed against the company in the US.
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These lawsuits alleged that the company failed to protect the data. However, under this agreement, Infosys or its subsidiary has not accepted any fault or responsibility, but instead of prolonging the legal process, it has chosen the path of resolving it by mutual consent.
Let us tell you that, McCamish Systems has agreed to pay 17.5 million dollars i.e. approximately Rs 145 crore in Indian currency to settle all these pending lawsuits. This amount will be deposited in a special fund, which will be used for redressal of grievances of the affected parties. The court gave final approval to this agreement on 18 December 2025, which Infosys made public on 20 December. The impact of this news has also been seen on Infosys shares. On Friday, December 19, Infosys shares closed at Rs 1639.60 on BSE with a gain of about 0.81 percent.
Infosys shares have seen ups and downs in the recent past, but in the last one month the stock has gained more than 6 percent. Currently the market cap of Infosys is more than Rs 6.81 lakh crore. Market experts believe that the resolution of this legal dispute has removed the cloud of uncertainty over the company’s reputation, which will further strengthen the confidence of investors in the future.
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